Powerscourt Coronavirus Briefing – 24 August 2020

President Trump last night doubled down on the war against coronavirus as he announced that the US Food & Drug Administration has fast-tracked the approval in the US of the use of blood plasma from recovered coronavirus patients as a therapy. The blood plasma has shown promise but its efficacy is still controversial.

President Trump’s moves show the extent to which successful vaccines and treatments have become the ultimate prize for governments and science and drug development has been politicised by the crisis.

The President, in a news briefing, painted the decision as the output of his administration’s attempts to cut red tape and speed up drug approvals. Less than 24 hours earlier, he had said the Food and Drug Administration (FDA), the body which oversees drug approvals in the US, had been deliberately holding up the therapies as it was part of a “deep state” conspiracy.

According to several reports, President Trump is separately in negotiations to bypass traditional rules on drug approvals to ensure that the experimental coronavirus vaccine in development by the University of Oxford and AstraZeneca, could be approved more quickly in the US.

The administration is exploring the possibility of the FDA providing “emergency use authorisation” (EUA) in October to the experimental vaccine. The AstraZeneca study has enrolled 10,000 volunteers, whereas the US government’s scientific agencies have said that a vaccine would need to have been studied in 30,000 people to pass the threshold for authorisation. AstraZeneca is also conducting a larger study with 30,000 volunteers, but the results from this study will not be ready until later. It isn’t clear how the President could force the FDA – an independent agency led by scientists – to Implement a waiver of these requirements.

The US President is under massive pressure to deliver some progress against the virus ahead of the November 3 elections. At last week’s Democratic National Convention, a parade of high profile speakers including the Democratic nominee Joe Biden and his nominated Vice Presidential candidate Kamala Harris, and President Trump’s predecessor Barack Obama, lined up to lambast Trump for his handling of the virus. Over 170,000 Americans have died from coronavirus: the highest death toll in the world. The Republican National Convention starts today.

Not to be outdone by the Americans, the Chinese government said on Sunday it had been administering a coronavirus vaccine candidate to key workers. Zheng Zhongei, the head of the National Health Commission’s science and technology centre, told state media organisation CCTV the government had authorised “emergency use” of a vaccine for workers including health workers and border officials. The official didn’t disclose which of the 170 vaccine candidates being trialled around the world was being given.

Meanwhile, the New York Times reports that Russia is surprised with the lack of global interest in its coronavirus vaccine, Sputnik V, which it launched earlier this month. An online survey of 3,040 Russian doctors found only 24pc would use it on their patients while trade unions for doctors and teachers expressed scepticism about the vaccine.

The Wall Street Journal today reports on a trend which is gathering pace around the world. Companies which had mandated that their staff be back at desks by early September are now doing U-turns on those plans.

A survey of 15 of the largest US companies employing 2.6 million people showed that nearly 60% had postponed the return to work due to continuing fears about coronavirus. With continuing fears around the impact of school reopening and the risk of a resurgence in the autumn, may companies are now adjusting these timetables.

Asian markets were up Monday morning on news of the accelerated approval of blood plasma and optimism about further positive developments for pharmaceuticals.

WHAT ARE COMPANIES SAYING?